Financial bookmakers, or spread betters, in London expected Britain's FTSE 100 index to open between 12 and 13 points lower, the German DAX 5 to 7 points lower and the French CAC 40 5 to 7 points lower.

Trouble in the U.S. subprime mortgage market as well as a lack of liquidity on interbank markets and difficulties for some banks trying to raise short-term funds have dampened shares of financial institutions over the past months.

The FTSEurofirst 300 index of top European shares closed 0.04% lower on Friday, at 1,550.89 points. The index finished the third quarter with a loss of 3.4%, its first quarterly loss since the second quarter of last year.